Warminster Road
Bath, BA2 6SF
Project ID: 7752
Summary of investment opportunity.
“The site was acquired in December 2015 by a consortium (our Client) and JV funder and is being redeveloped into 204 units.”
Headline Numbers
Gross Development Value of Site
107
million £
Site valued December 2015
32
million £
JV Funder Investment
40
million £
Existing Sponsor Equity Investment
4.75
million £
Required Preferred Equity
2.25
million £
Full planning permission was granted on 30th March 2015
- Full planning permission was granted on 30th March 2015
(Local Authority ref: 14/02272/EFUL) for 204 dwellings, served
from two vehicular accesses from Warminster Road, comprising
a mixture of 2 and 3-storey terraced houses, with 5 blocks of
flats ranging between 3 and 5 storeys in height (taking into
account level changes) - The JV is currently in the process of discharging the pre
commencement conditions for the existing consent. They are
also in the process of modifying the scheme to increase the
total number of units by 32 and 234 units subject to planning. - There are potential financial enhancements through changes in
the affordable housing legislation.
Consented scheme accommodation
- 67 Apartments (Spilt : 28 OMV & 39 RSL)
- 137 Houses (Spilt: 95 OMV & 42 RSL)
- With associated parking and landscaping
The total GDV of the scheme is approximately £110m as revalued by Savills.
67
apartments
137
houses
